19 October 2009 12:00AM
Durham, NC -- As financial markets lost value this year, a group of Duke University students found themselves in the midst of the turmoil, developing an investment strategy for a major Wall Street firm.
While living in New York City for the semester, a team of eight students wrote a report for a Citigroup executive on how to take advantage of low prices for companies operating in the specialized “monoline” insurance industry, which was effected by the decline in value of subprime mortgages.
“You really got to understand what was going on in the economy at this time,” said junior Andrew Miller in a phone interview from New York with five of the students on the project. “You would read the Wall Street Journal and say, ‘Oh my gosh, this is exactly what we are researching.’”